Bank of New York Mellon Corp Sells 96,379 Shares of Plexus Corp. (NASDAQ:PLXS)

Bank of New York Mellon Corp lowered its position in Plexus Corp. (NASDAQ:PLXS) by 29.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 236,296 shares of the technology company’s stock after selling 96,379 shares during the period. Bank of New York Mellon Corp owned 0.87% of Plexus worth $30,277,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PLXS. TD Private Client Wealth LLC purchased a new stake in Plexus during the 4th quarter valued at $28,000. Aquatic Capital Management LLC boosted its stake in shares of Plexus by 134.0% in the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock worth $37,000 after buying an additional 134 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Plexus by 45.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after buying an additional 100 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Plexus by 1,000.0% in the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company’s stock worth $61,000 after buying an additional 430 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Plexus by 49.2% in the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company’s stock worth $108,000 after buying an additional 279 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus set a $145.00 target price on Plexus in a report on Thursday, April 24th. Wall Street Zen raised Plexus from a “buy” rating to a “strong-buy” rating in a report on Monday, June 30th. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of Plexus in a report on Wednesday, June 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $162.00 target price (down from $172.00) on shares of Plexus in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.67.

Plexus Stock Performance

Shares of PLXS stock opened at $134.55 on Wednesday. The business’s fifty day simple moving average is $132.98 and its 200-day simple moving average is $135.02. The company has a market cap of $3.64 billion, a PE ratio of 26.18 and a beta of 0.80. The company has a current ratio of 1.53, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12-month low of $103.43 and a 12-month high of $172.89.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.12. The firm had revenue of $980.17 million for the quarter, compared to analyst estimates of $980.07 million. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. Analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Plexus news, CFO Patrick John Jermain sold 4,328 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the transaction, the chief financial officer owned 25,637 shares in the company, valued at approximately $3,391,518.73. This represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $129.87, for a total transaction of $194,805.00. Following the transaction, the chief executive officer owned 75,214 shares of the company’s stock, valued at approximately $9,768,042.18. This trade represents a 1.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,032 shares of company stock valued at $1,582,222 in the last 90 days. 1.76% of the stock is currently owned by insiders.

Plexus Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.